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The Thai baht weakened for a third straight week against the dollar, closing at 34.77 on Friday and moving toward its February year-to-date low of 35.39. Political uncertainty over forming the next government is prompting foreign funds to sell Thai equities and bonds.
Bloomberg reports that a central bank rate hike is unlikely to halt the slide.
A weaker baht raises the local-currency cost of dollar-priced feed ingredients for Thai buyers. The move is driven by domestic politics and has no direct effect on global feed prices.
bloomberg.comDavid FinnertyJun 1, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
